Construction Contractors Remain Confident as Summer Begins, Says ABC

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U.S. construction industry leaders remained upbeat regarding nonresidential construction’s near-term prospects in May 2019, according to the Construction Confidence Index released by Associated Builders and Contractors. While contractors were slightly less upbeat regarding profit margins and staffing levels compared to April, all three principal components measured by the survey—sales, profit margins and staffing levels—remain well above the diffusion index threshold of 50 in May. Nearly 73% of contractors expect sales to rise during the next six months and 68% expect staffing levels to increase further. The CCI for sales expectations increased from 68.4 to 70.0 in May. The CCI for […]

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Construction Input Prices Plummet in June, Says ABC

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Construction input prices decreased 1.3% on both a monthly and yearly basis in June, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data. This is the first time in nearly three years that input prices have fallen on a year-over-year basis. Overall, nonresidential construction input prices declined 1.4% from May 2019 but are down just 0.8% from June 2018. Among the 11 sub-categories, only natural gas (+1.6%) and concrete products (+0.9%) prices increased compared to May 2019. On a yearly basis, three of the sub-category prices have declined by more than […]

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Construction Jobs Increase by 21K in June, 224K during Past Year as Sector Unemployment Rate Decreases to 4%

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Construction employment increased by 21,000 jobs in June and by 224,000, or 3.2%, over the past 12 months, while the number of unemployed jobseekers with construction experience fell, according to an analysis of new government data by the Associated General Contractors of America. Association officials noted that firms continue to increase pay as they work to attract new hires from an ever-tighter labor market. “Construction firms continue to go to great lengths to recruit and retain workers during one of the tightest labor markets many of them have ever experienced,” said Stephen E. Sandherr, the association’s CEO. “Making matters worse, […]

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Nonresidential Construction Spending Slips Modestly in May, Says ABC

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According to a recent Associated Builders and Contractors analysis of U.S. Census Bureau data, national nonresidential construction spending declined 0.9% in May, totaling $788.5 billion on a seasonally adjusted annualized basis and a 4.4% increase compared to the same time last year. While total public and private nonresidential spending declined 0.9% since April, public spending was up 11.2% and private spending was down 0.1% year over year. Among the 16 nonresidential construction spending categories tracked by the Census Bureau, five experienced increases in monthly spending, including transportation (4%), communication (1.3%) and public safety (1.2%). Religious (-5.5%), commercial (-3.3%) and highway […]

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Architecture Billings Remain Flat in May

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Demand for design services in May remained essentially flat in comparison to the previous month, according to a new report from The American Institute of Architects. AIA’s Architecture Billings Index score for May showed a small increase in design services at 50.2, which is slightly down from 50.5 in April. Any score above 50 indicates an increase in billings. Both the project inquiries index and the design contracts index softened in May but remained positive. “The last four consecutive months, firm billings have either decreased or been flat, the longest period of that level of sustained softness since 2012,” said […]

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